Services
Target Alpena maintains several services that are available to the residents of Alpena County, as well as to Northeast Lower Michigan.
Loan Programs
The Revolving Loan Fund and the Micro
Revolving Loan Fund are the principal reason for Target's creation. Both of
these programs are based on job creation and retention.
Revolving Loan Program
The Revolving Loan Program covers $30,000 -
$50,000. This program is only available to businesses in Alpena County.
The funds must be used to create or retain at least one job for every $10,000
borrowed, and the borrower must be able to acquire at least two-thirds
of their total financing from other sources. If you would like to apply,
please download this application form.
Micro Revolving Loan Program
The Micro Revolving
Loan Program covers loans from $10,000 - $30,000. The availability of this
program is limited to Alpena, Alcona, Montmorency, Cheboygan, Presque Isle,
and Otsego counties. If you would like to this application, it
is available for download here.
(Section
1, Section 2, Section
3)
Business Recruitment
Are you looking to relocate
your business to Alpena or the surrounding area? Target can help! Lee Shirey,
our Chief Economic Development Officer, is always on hand to assist with business
relocation. Contact him at the Target office at (989) 364-2666.
Grant Applications
Target also assists local organizations
with grant applications for events, fundraiser's, etc.
Renaissance Zones
There are four Renaissance Zones in Alpena County: Commerce Industrial Park (which Target owns), The Armory Building in Downtown Alpena, Alpena Regional Airport, and Oxbow Development. These locations are available for businesses to relocate, and are virtually tax-free for any business. The taxes that residents of these Renaissance zones are free from include:
- Single Business Tax
- State personal income tax
- 6-mill state education tax
- Local personal property tax
- Local real property tax
- Local income tax
- Utility users tax
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